Van ECK Associates Corp Raises Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Van ECK Associates Corp lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,553 shares of the real estate investment trust’s stock after buying an additional 5,947 shares during the quarter. Van ECK Associates Corp’s holdings in First Industrial Realty Trust were worth $2,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FR. Commonwealth Equity Services LLC grew its holdings in First Industrial Realty Trust by 6.2% in the third quarter. Commonwealth Equity Services LLC now owns 74,187 shares of the real estate investment trust’s stock valued at $3,531,000 after purchasing an additional 4,362 shares during the period. Raymond James & Associates grew its holdings in First Industrial Realty Trust by 8.0% in the third quarter. Raymond James & Associates now owns 18,098 shares of the real estate investment trust’s stock valued at $861,000 after purchasing an additional 1,344 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in First Industrial Realty Trust by 9.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,536 shares of the real estate investment trust’s stock valued at $3,452,000 after purchasing an additional 6,203 shares during the period. Mackenzie Financial Corp purchased a new stake in First Industrial Realty Trust in the third quarter valued at approximately $326,000. Finally, Strs Ohio grew its holdings in First Industrial Realty Trust by 35.8% in the third quarter. Strs Ohio now owns 297,470 shares of the real estate investment trust’s stock valued at $14,156,000 after purchasing an additional 78,369 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Up 1.0 %

NYSE FR opened at $47.43 on Wednesday. The company’s fifty day simple moving average is $50.48 and its 200-day simple moving average is $50.02. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $55.22. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock has a market cap of $6.28 billion, a P/E ratio of 21.86 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.12%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FR. TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Royal Bank of Canada lifted their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Robert W. Baird reduced their price target on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Barclays reaffirmed an “equal weight” rating and set a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.40.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.